Fujiki, Hiroshi; Hsiao, Cheng - In: Monetary and Economic Studies 26 (2008) December, pp. 159-194
We use data from the Public Opinion Surveys on Household Financial Assets and Liabilities from 1991 to 2002 to investigate the issues of unobserved heterogeneity among cross-sectional units and stability of the Japanese aggregate money demand function. Conditions that permit individual data and...